Judges Capital PLC
25 March 2008
25 March 2008
Judges Capital Plc
('Judges Capital' or the 'Company')
Relocation of Aitchee via freehold property purchase
Judges Capital is pleased to announce that it has exchanged contracts for the
purchase of the freehold of Unit 18, Charlwoods Road, East Grinstead, West
Sussex, a property that adjoins the Fire Testing Technology ('FTT') factory. The
purchase is being made from a third party.
The 8,500 sq ft building is being purchased for £490,000, while costs associated
with refurbishment and the relocation of the Aitchee operation are estimated at
£100,000. The surplus office area and a small proportion of the industrial space
will be marketed for rent. It is anticipated that the purchase will be completed
on 1 April 2008 and the premises move is expected to take place in June 2008.
David Cicurel, Chief Executive of Judges Capital, commented: 'The purchase of
Unit 18 fulfils our objectives at the time of the acquisition of Aitchee in
September 2006, namely the relocation of operations into more appropriate
premises as close as possible to FTT. We are confident that this development
will enable Aitchee to expand its sales and enhance its co-operation with FTT.'
The property purchase will be financed through the Company's relatively large
unused cash balances. It is the Board's intention to put a commercial mortgage
in place as and when the Company requires further funds to facilitate its
acquisition programme.
Press enquiries:
David Cicurel, CEO, Judges Capital
Tel: 01342 323 600
Pascal Keane, Shore Capital
Tel: 020 7408 4090
Melvyn Marckus, Cardew Group
Tel: 07775 896 491
This information is provided by RNS
The company news service from the London Stock Exchange